June 21 (Reuters) - American Express ( AXP ) is buying
Squarespace ( SQSP )-owned restaurant booking platform Tock for
$400 million to expand its foothold in the dining industry, one
of the biggest spending categories on its cards.
The all-cash deal, unveiled on Friday, will build upon the
credit card giant's acquisition of online restaurant reservation
platform Resy in 2019.
Resy helps AmEx cardholders get special access to some
restaurants, including exclusive reservations, early
notifications or cashback on certain bookings made through the
platform.
The buyout of Tock will add another 7,000 restaurants,
wineries and other hospitality businesses to AmEx's network. It
will also allow restaurants to better target AmEx's premium
customers, who are typically prolific spenders.
AmEx is also buying Rooam, a contactless payments platform
used by restaurants, bars, music venues and other businesses,
for an undisclosed sum.
Squarespace ( SQSP ), which allows customers to design websites,
has agreed to be taken private by Permira in a nearly $6.9
billion deal.